The Trump Organization has announced plans for a $1.5 billion tower on the Gold Coast, marking the brand’s first official project in Australia.
Developer David Young, CEO of Altus Property Group, says he signed the deal with The Trump Organization at Mar-a-Lago, Florida, on February 14.
The proposed Trump International Hotel & Tower would rise 91 storeys at 3 Trickett Street, Surfers Paradise. That site that has sat vacant for more than a decade.
At 335 to 340 metres in height, the tower would surpass Melbourne’s Australia 108 as the country’s tallest building.
The project would include 270-285 residential apartments starting at $5 million, approximately 285 hotel rooms, and five floors of high-end retail, restaurants, and a beach club.
“We are now deeply into a process of design, engineering, construction and fit-out that will cost a shade under $1.5 billion and bring the world’s pre-eminent hotel-resort brand to our shores,” Mr Young said in a statement.
Construction is expected to begin in August this year.
The site already has council approval for an 89-storey tower. Chinese developer Forise sold the site in 2019 for $56 million to a consortium of investors called 3 Trickett Street Pty Ltd.
The ABC reported that Mr Young first cold-called President Donald Trump’s daughter, Ivanka, 19 years ago to propose the project, but obstacles, including the Global Financial Crisis, delayed progress.
The tower may not hold the tallest building title for long. A separate 101-storey twin-tower project called One Park Lane is proposed for nearby Southport at 393 metres, 53 metres taller than the Trump Tower plans. Work on that project is also expected to begin this year.
Gold Coast Acting Mayor Mark Hammel confirmed Altus would need to submit a new formal development application for the Trump Tower.
“We welcome investment in the city. It shows confidence in our city and ultimately creates jobs,” Mr Hammel said in a statement to Nine.
Eric Trump, the Trump Organization’s executive vice president, said the project will bring “the prestige and allure of a world-class luxury brand” to Australia.
A petition calling for the plan’s rejection had more than 45,000 signatures so far, with many saying they did not want to be associated with the Trump brand.
The Trump Organization brand operates in more than 20 locations worldwide, focused on high-end property development and luxury hospitality.
